Consumer News

Fuel Economy Packages Make Sense Depending On Vehicle According to TrueCar.com

TrueCar, Inc., an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers, today released a study which concludes that, depending on the vehicle you purchase, the hundreds of extra dollars paid for the premium fuel-boosting option could make financial sense or could prove to be a costly investment for minimal fuel economy gains. The options that provide better fuel economy for the consumer may not seem costly when looking at the initial purchase price but consumers need to be wary that the difference in fuel economy can be nominal for some vehicles and could take nearly 50 years to pay back the initial investment.

The vehicle that provides the best option for a consumer is the Mazda3 Touring with SkyActiv, which is cheaper than its counterpart vehicle, providing the best value for a consumer with immediate savings while the Chevrolet Sonic took nearly three years to pay off the premium for the Ecotec vesion. The popular Ford F-150 with EcoBoost took less than five years to break-even.

“The price of gas has consumers thinking about fuel economy but there’s a financial investment involved with most of these fuel-saving packages,” said Jesse Toprak, Vice President of Market Intelligence at TrueCar.com. “It’s important to compare the improvements in fuel economy and the extra costs of the package before purchasing a new vehicle.”

There are some models that only provide a small increase in fuel economy and the payback time on the investment could be lengthy. The Cruze Eco has the highest years to break-even, with 48 years but the Fiesta SFE also takes more than 36 years to pay off the cost of the fuel-saving option.

TrueCar’s fuel-boosting options study assumes gas prices at $3.90 per gallon and an average 15,000 miles driven annually. As fuel prices change, the break-even periods will change. As gas prices rise, a shorter break-even time will occur, while when gas prices decline, the break-even time will increase.